Eraaya lifespaces Limited has officially concluded its Board of Directors meeting held on March 28, 2026, implementing comprehensive leadership changes and governance framework restructuring in compliance with SEBI regulations. The meeting, conducted at the company's registered office at #54, Janpath, New Delhi, addressed critical organizational transitions and strategic realignments as part of ongoing efforts to strengthen leadership depth, governance standards and operational effectiveness.

Key Leadership Appointments

The board approved significant changes based on recommendations from the Nomination and Remuneration Committee and Audit Committee. The appointments were finalized as part of a comprehensive realignment of the company's leadership and governance framework at the ultimate holding company level.

The board noted that the current Chief Financial Officer will step down from the position while continuing to serve the company in other roles as part of the comprehensive realignment.

New CEO Profile and Expertise

Mr. Sushil Gupta brings over 30 years of extensive experience in stabilizing, transforming, and scaling promoter-led organizations through strong financial discipline, governance, and execution excellence. His previous leadership roles at SpiceJet and Sahara India Group demonstrate consistent success in cash flow optimization, strengthening internal controls, and implementing ERP-led digitization initiatives.

Mr. Gupta's expertise encompasses liquidity management, operational integration, risk oversight, and building scalable governance frameworks. His hands-on approach and strategic perspective are expected to enhance investor confidence and support the company's next phase of sustainable growth and global positioning.

CFO Appointment and Background

Mr. Ashish Sharma, the newly appointed Chief Financial Officer, is a Chartered Accountant with over 26 years of post-qualification experience across multinational corporations. His most recent association with Accenture spanned over 15 years, where he led operations delivery across Finance & Accounts, Financial Planning & Analysis, Order-to-Cash, Supply Chain Management, Treasury, and HR Operations.

Prior to Accenture, he gained over 12 years of diverse experience and has consistently driven transformation initiatives and continuous improvement across process delivery, client engagement, project management, and organizational development.

Governance Framework Restructuring

The board approved reconstitution of statutory Board Committees as part of the governance transition, ensuring an appropriate mix of skills, independence, and domain expertise in alignment with regulatory requirements. The board also approved creation of senior management positions to strengthen governance, compliance and risk oversight.

Updated Audit Committee Composition:

Updated Risk Management Committee:

Strategic Organizational Transition

The meeting noted a strategic transition from a unified global leadership framework at Ebix Inc. level to a decentralized structure. Each business vertical and geography is now independently led by designated leadership supported by dedicated management teams with clearly defined roles and accountabilities.

The board observed that interim arrangements put in place during the transition phase are no longer required, marking a significant step toward a more agile, accountable, and performance-driven governance model. The meeting commenced at 4:00 PM and concluded at 4:50 PM, with certain consolidation-related complexities requiring additional information and domain expert input for future consideration.

Eraaya Lifespaces Limited has submitted its quarterly compliance statement to BSE Limited, confirming adherence to fund utilization guidelines for the quarter ended December 31, 2025. The filing, made under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addresses the use of proceeds from the company's fundraising activities.

Fund Utilization Status

The company reported that no funds were raised or received during the quarter through Foreign Currency Convertible Bonds (FCCBs). However, funds received from the Preferential Issue of Compulsory Convertible Warrants during the quarter were properly utilized according to the stated objectives of the issue.

Compliance and Governance

The statement confirms that proceeds earmarked for specified purposes have been applied in accordance with the disclosed objects. The Audit Committee reviewed the fund utilization statement at its meeting held for this purpose, ensuring proper governance oversight of the company's financial activities.

Regulatory Filing Details

The compliance statement was signed by Director Ashish Jaitly (DIN: 10942708) and filed with BSE Limited on February 14, 2026. The company has also uploaded this disclosure on its website at www.eraayalife.com for public access.

The filing demonstrates the company's commitment to maintaining transparency in fund utilization and adhering to regulatory compliance requirements for listed entities.